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AGENCY TESTIMONY
Conclusion and acknowledgment of challenges
0:23:45
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Lisa Bova-Hiatt concludes the testimony by acknowledging NYCHA's ongoing challenges and reaffirming the agency's commitment to its mission.
- Recognition of serious challenges, including record-level rental arrears and insufficient federal funding
- Emphasis on NYCHA's vital role in providing affordable housing to New Yorkers
- Commitment to making the best use of limited funding and implementing creative strategies for generating new revenue
- Appreciation for partnership in addressing challenges and ensuring NYCHA's future sustainability
Lisa Bova-Hiatt
0:23:45
Design build teams are on-site initiating renovations at Saint Nicholas And Toad Hill houses and teams have been selected for Gowanus Houses and Wyckoff Gardens.
0:23:56
NYCHA is confronting serious challenges.
0:23:59
Rental arrears are at record levels while federal funding is not keeping pace with the ever increasing cost of repairing and maintaining decades old buildings.
0:24:12
Yet we know that NYCHA is a venerable institution serving a vital role in our city, providing decent and affordable homes to hundreds of thousands of New Yorkers and so it must be strengthened and preserved.
0:24:26
That is why we are hard at work to make the best use of limited funding while also implementing creative strategies for generating desperately needed new revenue such as PACT and the trust.
0:24:40
Thank you for your partnership as we continue to make progress in addressing the challenges and ensuring NYCHA is here to serve the coming generations of New Yorkers.
0:24:50
We're happy to answer any questions you may have.
0:24:53
Thank you.
Chris Banks
0:24:54
Thank you for your opening statement.